Statoil has farmed into Petrofrontier's four existing Exploration Permits (EP 103, 104, 127 and 128) as well as pending exploration permits (213 and 252) in the South Georgina Basin in Australia's Northern Territories.This is an early entry at scale into over 13 million acres of ''potentially highly prospective play at low cost,  with significant upsides. Through a step-wise exploration programme the partners will potentially drill 10-20 wells by 2017 in three phases to demonstrate prospectivity